Venture capital firm Andreessen Horowitz has announced its fourth fund of $4.5 billion that targets cryptocurrencies and startups in the space.
The company has announced that $1.5 billion from the fund will be set for seed investments and the remaining for venture investments. The company maintains that the Web3 era was ready for investments.
Web 3 is currently attracting investments from notable investors. Cryptocurrency VC company Paradigm unveiled a $2.5 billion fund for the sector and the protocols. Former A16z partners reportedly raised about $900 million for a new VC firm.
Data from Block statistics shows that about $29.1 billion was raised by cryptocurrency startups in 2021 alone. A16z’s raise is reportedly one of the largest in the sector, trailed by Paradigm’s $2.5 billion closed last year.
Andreessen Horowitz is a VC firm based in Silicon Valley that focuses its investments on financial technology companies, biotechnology, and cryptocurrency.
Source: A16z Crypto